Nigeria’s borrowing from the World Bank has reached $14.34bn as of March 31,
This was an increase from the $13.93bn debt recorded by the Debt Management Office as of December 31, 2022.
This means that fresh disbursements on approved loans added $410m to Nigeria’s debt from the World Bank in the first quarter of 2023.
The IBRD lends to governments of middle-income and creditworthy low-income…
Nigeria’s borrowing from the World Bank has risen by 121.46 per cent under the regime of the President, Major General Muhammadu Buhari (retd.)
The total debt owed to the World Bank Group by Nigeria rose by $7.64bn (N3.52tn, using the exchange rate of the Central Bank of…
World Bank has said developing counties including Nigeria have huge investment needs due to their inadequate infrastructure and other challenges.
As such, the Washington-based lender called on policymakers to create an environment conducive for investment and devoid of…
The Supreme Court on Wednesday restrained the Federal Government from implementing the Friday deadline for the currency swap.
A seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the Federal Government, the Central Bank of Nigeria and commercial banks from implementing the Friday terminal date for the old naira notes.
Also…
The World Bank has warned Nigeria to avoid a recession like the one it experienced in 2016.
December 20, 2022
According to the World Bank, Nigeria could experience a recession akin to that of 2016 if significant reforms are not carried out before the price of crude oil falls significantly.
According to the multilateral lender, Nigeria’s inability to take full advantage of the…
Nigeria is missing from the list of beneficiary countries for the $315 million World Bank fund for African countries to support food security.
The second phase of the West Africa regional Food Systems Resilience Program (FSRP-2) approved yesterday in International…
The Federal Government, on Wednesday, revealed that states had received N471.9bn of the $1.5bn World Bank-assisted States Fiscal Transparency, Accountability and Sustainability Programme for Results.
The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, disclosed this at the launch of the States Charter to sustain fiscal transparency, accountability and sustainability reforms at…
The total debt owed to the World Bank Group by Nigeria rose by $660m in the first six months of 2022, the
This is according to data from both the Debt Management Office and the financial statements of the World Bank.
According to data from the DMO, Nigeria debt to the…